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TREB: Realtors strongly dedicated to continuing education

Today, more Canadians own their own home than ever before, perhaps because few investments are as hard-working as real estate.

By Ann HannahSpecial to the Star

Fri., Oct. 19, 2012

Most of us agree on the many benefits of home ownership. Today, more Canadians own their own home than ever before, perhaps because few investments are as hard-working as real estate; it serves double duty, offering you shelter and the potential for long-term profit.

While Greater Toronto realtors believe firmly in the advantages of home ownership, we are also quick to espouse the benefits of education.

Choosing a career in real estate involves a lifelong commitment to learning — in our province, realtors are required to earn 24 continuing education credits every two years, and it’s a requirement that we embrace.

In fact, many realtors go well beyond the provincial mandate because in the incredibly dynamic GTA real estate market, there is no such thing as the status quo.

Virtually all of the factors that affect your transaction are constantly changing and it’s our responsibility to ensure that you’re equipped with current and insightful information.

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You can count on your realtor, for example, to offer valuable advice on the current state of the market. Real estate is a local business in which conditions can vary from neighbourhood to neighbourhood.

If you’re buying a home in the City of Toronto, we’ll advise you to budget an extra $6,000 on average for the municipal portion of the double Toronto Land Transfer Tax. We have been working for a number of years. incidentally, to help city councillors see that this is an unfair levy on homebuyers.

To help you keep money in your wallet, we can also counsel you on government programs like the RRSP Home Buyers’ Plan, which allows you to withdraw up to $25,000 ($50,000 for a couple) from your RRSP to buy or build a qualifying home as a first-time buyer.

In order to qualify for a mortgage you’ll need to meet specific criteria, and since it often changes, we can advise you on how to plan for a successful outcome.

Before you choose a home, it’s important to consider usage limitations that result from factors like municipal zoning restrictions and condominium bylaws. Your realtor can help ensure you’re prepared on this front as well.

Given that every transaction is unique, it is also vital to consult a realtor so that your interests are protected through the use of appropriate real estate forms and clauses.

Keeping pace with all of the information that is required to offer you sound advice means that realtors routinely incorporate continuing education sessions into their schedules.

We are so committed to learning, in fact, that we offer four scholarship grants and an opportunity for an internship at our professional association, the Toronto Real Estate Board, on an annual basis.

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